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2017-12-01 08:41:39

FSLR

First Solar

$62.10

2.08 (3.47%)

08:41

12/01/17

12/01

08:41

12/01/17

08:41

First Solar price target raised to $70 ahead of analyst day at Roth Capital

Roth Capital analyst Philip Shen said ahead of First Solar's analyst day next Tuesday that he expects the stock to move less on its potential 2018 guidance, as the year is largely expected to be a trough one, and more on the company's longer-term plans and execution in ramping up the Series 6. After updating his valuation to reflect the cash flows he believes can be generated through 2020, Shen raised his price target on the stock to $70 from $60 and maintains a Buy rating.

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Dec

07

Dec

FSLRFirst Solar

$62.10

2.08 (3.47%)

10/31/17

10/31/17NO CHANGE

FBR says less onerous than expected ITC remedies may weigh on First Solar

FBR Capital analyst Carter Driscoll noted that the International Trade Commission proposed remedies for the solar 201 trade case, with the plurality recommendation calling for a 30% tariff on imported solar cells above 1GW and a 30% tariff on solar modules over a 4-year period. While commissioners offered alternatives, he believes the plurality recommendation becomes the leading proposal that President Trump will begin to consider and the ITC may put into effect in January. Given that First Solar would have been the main beneficiary of a more onerous structure, the stock may sell off on this news, said Driscoll. First Solar shares are down 8% to $55.50 in afternoon trading.

As solar investors digest reports that the International Trade Commission is proposing up to a 30%-35% import tariff for crystalline solar panels imported into the U.S. related to the Section 201 filing, Oppenheimer analyst Colin Rusch believes a bigger policy story is brewing. The analyst notes that the investment tax credit for solar has entered the mix as an area of potential savings, and believes an investment tax credit reduction is becoming a material risk to solar companies, in particular Sunrun (RUN), Vivint Solar (VSLR), First Solar (FSLR), and Enphase Energy (ENPH) and to a lesser extent SolarEdge (SEDG) and SunPower (SPWR).

11/02/17

RILY

11/02/17NO CHANGERILY

Tax reform bill a 'mixed bag' for renewable energy, says B. Riley FBR

B. Riley FBR analyst Benjamin Salisbury called the House tax reform proposal a "mixed bag" for renewable energy credits, noting that it would end the tax credit for commercial-scale solar projects after 2027, reduce the available wind tax credit and extend the orphaned tax credits, including fuel cells. The plan is still being negotiated and Salisbury sees a 30-40% probability that Congress can pass a tax cut mirroring the recent GOP blueprint and a 55-65% chance they could pass a scaled-down version. Publicly traded companies in the solar space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE). The Fly notes that Plug Power (PLUG) has issued a statement applauding the Committee for "addressing the market disparity that was created in 2015."

AT&T Mobility has reached a tentative agreement with the Communications Workers of America in Mobility Orange contract negotiations. The four-year agreement, which will be submitted to the union's membership for a ratification vote in coming days, covers about 20,000 employees in 36 states and the District of Columbia - AT&T's Mobility Orange unit, which encompasses CWA Districts 1, 2-13, 4, 7 and 9.

Pfizer announced that the United States FDA has approved IXIFI, a chimeric human-murine monoclonal antibody against tumor necrosis factor, as a biosimilar to Remicade for all eligible indications of the reference product. The FDA has approved IXIFI as a treatment for patients with rheumatoid arthritis, Crohn's disease, pediatric Crohn's disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, and plaque psoriasis.

Western Alliance Bancorporation announced that during the first quarter of 2018 Robert Sarver will transition from Chairman and CEO to Executive Chairman. In conjunction with Sarver's change in role, Ken Vecchione will be promoted to Chief Executive Officer, Dale Gibbons to Vice Chairman and Chief Financial Officer, and James Haught to President and Chief Operating Officer, all effective April 1, 2018.

Aqua America announced that President and CEO Christopher H. Franklin has been elected chairman of the board, effective Jan. 1, 2018. Franklin became CEO in July 2015 and has served on the board of directors since October 2015. He succeeds Nicholas DeBenedictis, former CEO, who will continue to serve on the board as chairman emeritus.